21 Jul 14
$2 Billion Later | Facebook officially owns Oculus

Facebook officially owns Oculus. Back in March Facebook purchased OculusVR for an outstanding 2 Billion dollars. Back in March the announcement was met with a lot of protest, but now with the deal finalized and the the emotions dieing down the $2 Billion will help guarantee that VR won’t just be another passing fad.

The two companies issued a statement:

“We’re looking forward to an exciting future together, building the next computing platform and reimagining the way people communicate.”

During the initial announcement, Facebook CEO Mark Zuckerberg stated:

“We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.”

Along with the 2 Billion, an additional $300 million in cash and stock will be awarded to Oculus if it hits certain milestones pending release.

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Our mission is to cover the latest information about Virtual Reality news, software and hardware such as the Oculus Rift, Google Glass and Project Morpheus. With in-depth feature stories, VR guides and planned reviews, we hope to be your one stop source for all things VR.